Grocery retail Company based in Jaipur, Kirana King has raised Rs 7 crore from Rajasthan Venture Capital Fund, also based in Jaipur.
The firm plans to expand its retail network, Manpower, enhancement & development of Technology with the help of the funds raised.
Kirana King also aims to expand its operations in various parts of Rajasthan where it targets of achieving 1000 stores by the end of 2021. The company is slated to be a powerful grocery retail aggregator player in India by 2025. It is aiming to achieve 4 times revenue growth during the ongoing financial year in comparison to the last year.
Launched in 2017, the startup helps local kirana stores to compete with grocery supermarkets and online grocery market. The company performs functions ranging from providing sustainable infrastructure, managing inventory and supplying goods to help the stores meet customer’s demand.
Anup Kumar, Founder & CEO of Kirana King said – “We defined the Problem Statement at the brainstorming level of our idea of Kirana King in two words-Empowerment and Change, as most of the dynamic and revolutionary products or services across the globe have been driven either through Empowerment or Change, we went into detail study of the missing links that had been acting as severe bottlenecks in Grocery Retail Eco-System in India. Our thoughts were trying to break into the reasons of a very slow pace growth of Grocery Retail in India while the other emerging economies around us like in the Middle East or South-East Asia Region had been witnessing a surge in convenience store format.”
Gaurav Chowdhry, Vice President, RVCF stated that, India is witnessing changes and developments in the grocery retail field which is attracting both regional players and large corporates. With its Retail as a Service (RaaS) USP, Kirana King is looking very promising to us, he added.
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